‘Crypto is not communism’ — Exec slams BIS’ take on crypto

Christopher Perkins, president of CoinFund, criticized the Bank for International Settlements (BIS) for its confusing stance on cryptocurrencies, labeling their approach as dangerous and uninformed.

Perkins sees crypto as a revolutionary financial movement akin to the internet, suggesting its isolation from traditional finance could expose the latter to severe liquidity risks.

He defended decentralized finance (DeFi) as a clearer alternative to traditional finance and challenged concerns regarding stablecoins, arguing that they could positively impact developing economies.